The following is added to VI. CONDITIONS, R. CANCELATION, TERMINATION, CHANGE, OR MODIFICATION:
The Gabelli U.S. Treasury Money Market Fund;
Gabelli Growth Innovators ETF.
The following is added to section VI. CONDITIONS:
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IVBB-19007 Ed. 01-16
© 2016 The Travelers Indemnity Company. All rights reserved. |
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Page 1 of 2 |
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Co-Surety Schedule |
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Controlling Company: |
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Underwritten for the sum of: |
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$20,000,000 part of $30,550,000 (Including as to Unauthorized Signature |
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Endorsement and Automated Phone Systems Endorsement) |
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Except as follows: |
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Insuring Agreement G: |
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$32,733 part of $50,000; |
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Insuring Agreements H and J: |
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$16,366 part of $25,000 |
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Travelers Casualty and Surety Company of America (Controlling Company) |
By: |
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Signature: |
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Company (or Companies) other than Controlling Company: |
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Underwritten for the sum of: |
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$10,550,000 part of $30,550,000 (Including as to Unauthorized Signature |
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Endorsement and Automated Phone Systems Endorsement) |
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Except as follows: |
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Insuring Agreement G: |
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$17,267 part of $50,000; |
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Insuring Agreements H and J: |
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$ 8,634 part of $25,000 |
By: |
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Great American Insurance Company |
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Signature: |
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Nothing herein contained shall be held to
vary, alter, waive, or extend any of the terms, conditions, exclusions, or limitations of the above-mentioned policy, except as expressly stated herein. This endorsement is part of such policy and incorporated therein.
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IVBB-19007 Ed. 01-16
© 2016 The Travelers Indemnity Company. All rights reserved. |
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Page 2 of 2 |
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
UNAUTHORIZED SIGNATURE ENDORSEMENT
This endorsement changes
the following:
Investment Company Bond
It is agreed that:
1. |
The following is added to section II. INSURING AGREEMENTS, D. FORGERY OR ALTERATION: |
Loss resulting from the Insured accepting, paying, or cashing any Negotiable Instrument or Withdrawal Order made or drawn
on a customer’s account, which bears an unauthorized signature or an unauthorized endorsement, provided that the Insured has on file the signatures of all persons authorized to sign or endorse such Negotiable Instrument or Withdrawal
Order.
2. |
The following replaces section VI. CONDITIONS, N. ANTI-BUNDLING: |
If any Insuring Agreement requires that an enumerated type of document be altered or Counterfeit, or contain a signature or
endorsement which is a Forgery or which is unauthorized, or that it be obtained through trick, artifice, fraud, or false pretenses, such alteration, Counterfeit, signature, or endorsement must be on or of the enumerated document
itself, not on or of some other document submitted with, accompanying, or incorporated by reference into, the enumerated document.
Nothing herein contained shall be held to
vary, alter, waive, or extend any of the terms, conditions, exclusions, or limitations of the above-mentioned policy, except as expressly stated herein. This endorsement is part of such policy and incorporated therein.
Issuing Company: Travelers Casualty and
Surety Company of America
Policy Number: 106839603
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IVBB-19010 Ed. 01-16
© 2016 The Travelers Indemnity Company. All rights reserved. |
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Page 1 of 1 |
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
AMEND DISCOVERY AND CANCELATION OR TERMINATION CONDITIONS – SCHEDULED POSITIONS ENDORSEMENT
This endorsement changes the following:
Investment Company Bond
It is agreed that:
1. |
The following replaces section VI. CONDITIONS, B. DISCOVERY: |
This bond applies to loss discovered by the Insured during the Bond Period. Discovery occurs when any individual holding the
title or position set forth in the Schedule below, or employed in a department or division described in the Schedule below, first becomes aware of facts which would cause a reasonable person to assume that a loss of a type covered by this bond has
been or will be incurred, regardless of when the act or acts causing or contributing to such loss occurred, even though the exact amount or details of loss may not then be known.
Discovery also occurs when any individual holding the title or position set forth in the Schedule below, or employed in a department or
division described in the Schedule below, receives notice of an actual or potential claim in which it is alleged that the Insured is liable to a third party under circumstances which, if true, would constitute a loss under this bond.
2. |
The following replaces section VI. CONDITIONS, R. CANCELATION, TERMINATION, CHANGE OR MODIFICATION, 2.c.:
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c. |
Coverage terminates as to any Employee; or as to any partner, officer, or employee of any Electronic Data
Processor: |
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(1) |
as soon as any individual holding the title or position set forth in the Schedule below, or employed in a department
or division described in the Schedule below, not in collusion with such person learns of any dishonest or fraudulent employment related act; or |
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(2) |
60 days after any individual holding the title or position set forth in the Schedule below, or employed in a
department or division described in the Schedule below, not in collusion with such person learns of any dishonest or fraudulent non-employment related act which resulted in a loss of Property in excess
of $25,000, |
either of which were committed by such person at any time, whether in the employment of the Insured
or otherwise, whether or not of the type covered under Insuring Agreement A, against the Insured or any other person or entity, without prejudice to the loss of any Property then in transit in the custody of such person.
However, termination of coverage as to any Employee as set forth in (1) and (2) of the preceding paragraph will not apply
to any such person provided the Insured has received and retains an original letter signed by a prior insurer reinstating coverage for such individual for whom the Insured discovered had committed a dishonest or fraudulent act prior to the
effective date of this bond.
Schedule
Risk Manager, Head of Internal
Audit, or General Counsel of Gabelli Funds, LLC
Issuing Company: Travelers Casualty and Surety Company of America
Policy Number:
106839603
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IVBB-19016 Ed. 01-16
© 2016 The Travelers Indemnity Company. All rights reserved. |
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Page 1 of 2 |
Nothing herein contained shall be held to vary, alter, waive, or extend any of the terms, conditions, exclusions, or limitations of the above-mentioned
policy, except as expressly stated herein. This endorsement is part of such policy and incorporated therein.
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IVBB-19016 Ed. 01-16
© 2016 The Travelers Indemnity Company. All rights reserved. |
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Page 2 of 2 |
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
AMEND DEFINITION OF EMPLOYEE ENDORSEMENT
This endorsement
changes the following:
Investment Company Bond
It is agreed that:
The following is added to section IV. DEFINITIONS, R. Employee:
Employee also means any natural person named or holding any title or position described in the Schedule below, but only while such person is
operating under Written contract with the Insured and is under the direct supervision or control of the Insured.
Schedule:
Sub-Advisor, Shareholder Services Agent, Custodian, or Sub-Custodian
Nothing herein contained shall be held to vary, alter, waive, or extend any of the terms, conditions, exclusions, or limitations of the above-mentioned
policy, except as expressly stated herein. This endorsement is part of such policy and incorporated therein.
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Issuing Company: |
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Travelers Casualty and Surety Company of America |
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Policy Number: |
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106839603 |
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IVBB-19024 Ed. 01-16
© 2016 The Travelers Indemnity Company. All rights reserved. |
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Page 1 of 1 |
THIS ENDORSEMENT CHANGES THE BOND. PLEASE READ IT CAREFULLY.
NEWLY CREATED INVESTMENT FUNDS OR PORTFOLIOS ENDORSEMENT
This endorsement changes the following:
Investment Company Bond
It is agreed that:
1. |
The following replaces section III. GENERAL AGREEMENTS, A.: |
This bond will include coverage for any Newly Created Investment Fund or Portfolio, provided
the Insured or the Investment Adviser submits to the Company, following the end of each Bond Period, a list of all Newly Created Investment Fund or Portfolios created and offered during
such Bond Period, including the estimated assets of each Newly Created Investment Fund or Portfolio and copies of any prospectuses and statements of additional information relating to such
Newly Created Investment Funds or Portfolio, unless such prospectuses and statements of additional information have been previously submitted to the Company.
Following the end of each Policy Period, any Newly Created Investment Fund or
Portfolio created during such Policy Period will continue to be insured only if:
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1. |
the Company is notified as set forth in this General Agreement; |
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2. |
the information required by this General Agreement has been provided to the Company; and |
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3. |
the Company acknowledges the addition of such Newly Created Investment Fund or
Portfolio by Written endorsement issued to and forming a part of this bond. |
2. |
The following is added to section IV. DEFINITIONS: |
Newly Created Investment Fund or Portfolio means any new fund
or portfolio created and offered by an Insured or Investment Adviser and
for which registration with the SEC has been declared.
Newly Created Investment Fund or Portfolio does not include any fund or portfolio
that was part of any consolidation, merger, purchase, or acquisition as described in section III. GENERAL AGREEMENTS, B.
Nothing herein contained shall be held to vary, alter, waive, or extend any of the terms, conditions, exclusions, or limitations of the above-mentioned
bond, except as expressly stated herein. This endorsement is part of such bond and incorporated therein.
Issuing Company: Travelers Casualty and Surety Company of America
Bond
Number: 106839603
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IVBB-10004 Ed. 09-16
© 2016 The Travelers Indemnity Company. All rights reserved. |
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Page 1 of 1 |
THIS ENDORSEMENT CHANGES THE BOND. PLEASE READ IT CAREFULLY.
AUTOMATED PHONE SYSTEMS ENDORSEMENT
This endorsement changes
the following:
Investment Company Bond
It is agreed that:
1. |
The following is added to ITEM 4. of the Declarations |
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INSURING AGREEMENT |
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SINGLE LOSS LIMIT OF INSURANCE |
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SINGLE LOSS DEDUCTIBLE AMOUNT |
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AUTOMATED PHONE SYSTEMS |
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$30,550,000 |
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$10,000 |
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2. |
The following is added to section II. INSURING AGREEMENTS: |
AUTOMATED PHONE SYSTEMS (“APS”)
Loss caused directly by an APS Transaction, where the request for such APS Transaction is unauthorized or
fraudulent and is made with the manifest intent to deceive the Insured; provided that the entity that receives such request generally maintains and follows during the Bond Period all APS Designated Procedures with
respect to APS Transactions. The isolated failure of such entity to maintain and follow a particular APS Designated Procedure in a particular instance will not preclude coverage under this Insuring Agreement.
2. |
The following are added to section IV. DEFINITIONS: |
APS or Automated Phone System means an automated system
that receives and converts to executable instructions (1) transmissions by voice over
the telephone, or (2) transmissions over the telephone through use of a
touch-tone keypad or other tone system; but does not include transmissions from
a Computer System or part thereof.
APS
Designated Procedures means the following procedures:
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1. |
Logging: All APS Transaction requests must be logged or otherwise recorded so as to preserve all of the
information necessary to effect the requested APS Transaction transmitted in the course of such a request, and the records must be retained for at least six months. Information contained in the records must be capable of being
retrieved and produced within a reasonable time after retrieval of specific information is requested, at a success rate of no less than 85 percent. |
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2. |
Identity Test: The identity of the caller in any request for an APS Transaction must be tested before
executing that APS Transaction by requiring the entry by the caller of an identification number consisting of at least four digits or characters. |
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3. |
Contemporaneous Confirmation: All information in each request for an APS Transaction that is necessary
to effect such APS Transaction must be contemporaneously repeated to the caller, and no such APS Transaction will be executed unless the caller has confirmed the accuracy of such information. |
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4. |
Written Confirmation: A written confirmation of each APS Transaction must be sent to the shareholders to
whose account such APS Transaction relates, at the record address, by the end of the Insured’s next regular processing cycle, but no later than five business days following such APS Transaction.
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5. |
Access to APS Equipment: Physical access to APS Equipment must be limited to duly
authorized personnel. |
Issuing Company: Travelers Casualty and Surety Company of America
Bond Number:
106839603
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IVBB-10010 Ed. 11-16
© 2016 The Travelers Indemnity Company. All rights reserved. |
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Page 1 of 2 |
APS Election means any election
concerning dividend options available to the Insured’s shareholders that is
requested through an Automated Phone System.
APS Exchange means any exchange of shares in
a registered account of one Insured into shares in an identically
registered account of another Insured in the same complex pursuant to
exchange privileges of the two Insureds, which exchange is requested through
an Automated Phone System.
APS Purchase
means any purchase of shares issued by an Investment Advisor that
is requested through an Automated Phone System.
APS Redemption means any redemption of shares
issued by an Investment Advisor that is requested through an Automated
Phone System.
APS Transaction means any
APS Redemption, APS Election, APS Exchange, or APS Purchase.
Officially Designated means designated in writing signed
by a shareholder of record of an Insured, either in such
shareholder’s initial application for the purchase of an Insured’s shares,
with or without a Signature Guarantee, or in another document with a
Signature Guarantee.
Signature Guarantee means a
Written guarantee of a signature that is made by a Financial
Institution whose deposits are insured by the Federal Deposit Insurance Corporation,
or by a broker that is a member of any national securities exchange
registered under the Securities Exchange Act of 1934.
3. |
Solely with respect to the Automated Phone Systems Insuring Agreement, the following are added to section V.
EXCLUSIONS: |
This bond does not cover:
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a. |
Any loss covered under any other Insuring Agreement of this bond: |
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b. |
Any loss resulting directly or indirectly from: |
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(1) |
Any APS Redemption, where the proceeds of such redemption were requested to be paid or made payable to
other than (a) the shareholder of record, or (b) a person Officially Designated to receive redemption proceeds, or (c) a bank account Officially Designated to receive redemption proceeds;
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(2) |
Any APS Redemption of an Insured’s shares that had been improperly credited to a
shareholder’s account, where such shareholder (a) did not cause, directly or indirectly, such shares to be credited to such account, and (b) directly or indirectly received any proceeds or other benefit from such redemption;
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(3) |
Any APS Redemption from any account, where the proceeds of such redemption were requested to be sent
(a) to any address other than the record address for such account, or (b) to a record address for such account that was either (i) designated over the telephone fewer than 30 days prior to such redemption, or (ii) designated in
writing less than one day prior to such redemption; |
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(4) |
The failure to pay for shares attempted to be purchased, or |
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(5) |
The intentional failure to adhere to one or more APS Designated Procedures.
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Nothing herein contained shall be held to vary, alter, waive, or extend any of the terms, conditions, exclusions, or limitations of the above-mentioned
bond, except as expressly stated herein. This endorsement is part of such bond and incorporated therein.
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IVBB-10010 Ed. 11-16
© 2016 The Travelers Indemnity Company. All rights reserved. |
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Page 2 of 2 |
THIS ENDORSEMENT CHANGES THE BOND. PLEASE READ IT CAREFULLY.
AUTOMATIC INCREASE IN INSURING AGREEMENT A.1. SINGLE LOSS LIMIT OF INSURANCE ENDORSEMENT
This endorsement changes the following:
Investment Company Bond
It is agreed that:
The following is added to section VI. CONDITIONS,
E. SINGLE LOSS LIMIT OF INSURANCE:
Notwithstanding the previous paragraph, if the Insured, while this bond is in force, requires an increase
in the limit of Insuring Agreement A.1. in order to comply with SEC Regulation 17g-1, as a result of:
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1. |
an increase in assets under management by current Insureds under the bond, per the terms of section III. GENERAL
AGREEMENTS, A. ORGANIC GROWTH; or |
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2. |
an increase in assets under management due to the addition of new investment companies per the terms of section III.
GENERAL AGREEMENTS, B. CONSOLIDATION – MERGER – PURCHASE OR ACQUISTION OF ASSETS, |
the Single Loss Limit
of Insurance for Insuring Agreement A.1. will automatically be increased to comply with Regulation 17g-1 without the payment of additional premium, for the remainder of the Bond Period.
Nothing herein contained shall be held to vary, alter, waive, or extend any of the terms, conditions, exclusions, or limitations of the above-mentioned
bond, except as expressly stated herein. This endorsement is part of such bond and incorporated therein.
Issuing Company: Travelers Casualty and Surety Company of
America
Bond Number: 106839603
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IVBB-19044 Ed. 05-18
© 2018 The Travelers Indemnity Company. All rights reserved. |
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Page 1 of 1 |
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
NEW YORK CANCELATION, TERMINATION, CHANGE, OR MODIFICATION ENDORSEMENT
This endorsement changes the following:
Investment Company Bond
It is agreed that:
1. |
The following replaces VI. CONDITIONS, R. CANCELATION, TERMINATION, CHANGE, OR MODIFICATION, 1.b.:
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b. |
If the bond has been in effect for 90 days or less, it may be canceled by the Company for any reason. Such cancelation
will be effective 90 days after the Company mails a notice of cancelation to the first named Insured at the mailing address set forth in ITEM 1 of the Declarations, the SEC, and every other Insured. |
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If the bond has been in effect for more than 90 days or is a renewal, then cancelation may only be for one or more of
the following reasons and will be effective 90 days after the notice of cancelation is mailed or delivered to the first named Insured at the mailing address set forth in ITEM 1 of the Declarations, the SEC, and to every other Insured:
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(1) |
nonpayment of premium or installment that is overdue, as well as any unpaid fees charged for installments, late
payment or reinstatement; |
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(2) |
conviction of the Insured of a crime arising out of acts increasing the hazard insured against; |
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(3) |
discovery of fraud or material misrepresentation in the obtaining of this bond or in the presentation of a claim
hereunder; |
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(4) |
discovery after the inception date set forth in ITEM 2 of the Declarations of an act or omission, or a violation of
any bond condition that substantially and materially increases the hazard insured against; |
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(5) |
material change in the nature or extent of the risk, occurring after the Inception Date set forth in ITEM 2 of the
Declarations, which causes the risk of loss to be substantially and materially increased beyond that contemplated at the time the bond was issued or last renewed; |
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(6) |
a determination by the superintendent that continuation of the present premium volume of the Company would jeopardize
the Company’s solvency or be hazardous to the interests of the Company’s stockholders or creditors, or to the public; |
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(7) |
a determination by the superintendent that continuation of the bond would violate, or would place the Company in
violation of, any provision of the New York State Insurance Law; or |
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(8) |
where the Company has reason to believe, in good faith and with sufficient cause, that there is a possible risk or
danger that the insured property will be destroyed by the Insured for the purpose of collecting the insurance proceeds, provided that: |
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(a) |
a notice of cancelation on this ground informs the Insured in plain language that the Insured must act within 10 days
if review by the Department of Financial Services of the State of New York of the ground for cancelation is desired; and |
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(b) |
notice of cancelation on this ground is provided simultaneously by the Company to the Department of Financial Services
of the State of New York. |
2. |
The following are added to VI. CONDITIONS, R. CANCELATION, TERMINATION, CHANGE, OR MODIFICATION:
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The Company will not be required to renew this bond upon its expiration. If the Company elects not to renew, the Company will provide the
Insured set forth in ITEM 1 of the Declarations, the SEC, and every other Insured Written notice to that effect at least 60 days, but no more than 120 days, before the Expiration Date set forth in ITEM 2 of the Declarations. If such notice is
given late, the bond will continue in effect for 60 days after such notice is received by the Insured.
Issuing Company: Travelers Casualty and Surety Company of
America
Policy Number: 106839603
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IVBB-18023 Rev. 12-17
© 2017 The Travelers Indemnity Company. All rights reserved. |
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Page 1 of 2 |
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5. |
Renewal with Altered Terms: |
Should this bond be renewed or replaced, but with a reduction of limits, reduced coverage, increased deductible, additional exclusions,
or upon increased premiums in excess of 10% (exclusive of any premium increase as a result of experience rating), the Company must mail Written notice to the Insured shown in ITEM 1 of the Declarations at least 60 days but not more than 120
days before renewal or replacement. If such notice is given late, the renewal or replacement bond will be in effect with the same terms, conditions and rates as the terminated bond for 60 days after such notice is received by the Insured.
The Company may elect to simply notify the Insured that the bond will either not be renewed, or will be renewed with different terms,
conditions or rates. In such event, the Company will inform each Insured and the SEC that a second notice will be sent at a later date specifying the Company’s exact intention. The notice will inform the parties that, in the meantime, coverage
will continue at the same terms, conditions and rates as the expiring bond until the expiration date of the bond or 60 days after the second notice is received by the Insured, whichever is later.
Nothing herein contained shall be held to vary, alter, waive, or extend any of the terms, conditions, exclusions, or limitations of the above-mentioned
policy, except as expressly stated herein. This endorsement is part of such policy and incorporated therein.
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IVBB-18023 Rev. 12-17
© 2017 The Travelers Indemnity Company. All rights reserved. |
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Page 2 of 2 |
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
NEW YORK INSURANCE MANDATORY REGULATION 209 ENDORSEMENT
This
endorsement changes the following:
Investment Company Bond
It is agreed that:
1. |
The following is added to section V. EXCLUSIONS, AA.: |
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However, this exclusion will not apply to loss caused by an Employee of an Insured located in New York who was
convicted of a fraudulent or dishonest act prior to becoming employed by the Insured if the Insured made a determination to hire or retain such Employee utilizing the factors set out in Correction Law Article
23-A. Nevertheless, this exclusion will apply to an Employee, or loss caused by such Employee, for whom there is a bar to employment established by law and the Insured has hired or retained the
Employee despite the bar. |
2. |
The following is added to section VI. CONDITIONS, R. CANCELATION OR
TERMINATION, 2. Termination, c.: |
Termination of coverage as to any Employee as set forth in c.(1)
and c.(2) above will not apply to any such person provided the Insured has received and retains an original letter signed by a prior insurer reinstating coverage for such individual whom the Insured discovered had committed a dishonest or fraudulent
act prior to the effective date of this bond.
With respect to any Employee, upon the detection by any Insured that such
Employee (hereafter “detected Employee”) has committed any dishonest or fraudulent acts or theft, the Insured must immediately remove the detected Employee from a position that may enable the detected Employee
to cause the Insured to suffer a loss by any subsequent dishonest or fraudulent acts or theft. The Insured, within 48 hours of such detection, must notify the Company with full and complete particulars of the detected dishonest or fraudulent acts or
theft.
For purposes of this section, detection occurs when any partner, officer, or supervisory Employee of any Insured, who
is not in collusion with the detected Employee, becomes aware that the detected Employee has committed any dishonest or fraudulent acts or theft.
Coverage under this bond with respect to such Employee will terminate upon written notice to each Insured and to the Securities
and Exchange Commission from the Company of not less than 60 days prior to the effective date of termination specified in such notice.
Termination of coverage as to any Employee of an Insured located in New York as set forth in c.(1) and c.(2) above will also not
apply to any such Employee if: (a) the dishonest act was committed by that Employee prior to becoming employed by the Insured, (b) the dishonest act resulted in a conviction of that Employee; and (c) the Insured
made a determination to hire or retain the Employee utilizing the factors set out in Correction Law Article 23-A. However, such termination of coverage will apply to an Employee, or loss caused
by such Employee, for whom there is a bar to employment established by law and the Insured has hired or retained the Employee despite the bar.
Nothing herein contained shall be held to
vary, alter, waive, or extend any of the terms, conditions, exclusions, or limitations of the above-mentioned policy, except as expressly stated herein. This endorsement is part of such policy and incorporated therein.
Issuing Company: Travelers Casualty and Surety Company of America
Policy
Number: 106839603
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IVBB-17022 Rev. 10-19
© 2019 The Travelers Indemnity Company. All rights reserved. |
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Page 1 of 1 |
AMENDED AND RESTATED
JOINT INSURED AGREEMENT
AGREEMENT dated December 1, 1999, as most recently amended as of November 19, 2013, July 11, 2014,
April 23, 2015, November 18, 2015, November 16, 2016, November 15, 2018, November 14, 2019, November 12, 2020 and November 11, 2021 among the registered investment companies advised by Gabelli Funds, LLC, Teton
Advisors, Inc., and Keeley-Teton Advisors, LLC (together, the “Advisers”) which are listed on Schedule A attached hereto (collectively, the “Funds”).
WHEREAS, each of the Funds is named as an insured in an investment company blanket bond (the “Fidelity Bond”) which
is intended to be in full compliance with Rule 17g-1 under the Investment Company Act of 1940, as amended; and
WHEREAS, the Funds desire to enter into an agreement in order to meet the requirements of Rule
17g-1 and to assure that premiums payable with respect to the Fidelity Bond and payments by the Insurer with respect to the Fidelity Bond are allocated in a fair and equitable manner;
Now, THEREFORE, the Funds do hereby agree as follows:
1. Each Fund shall maintain a minimum amount of fidelity insurance one level
higher than that specified for its asset size by the table contained in Rule 17g-1(d) (the “Minimum Insurance”). Each Fund shall aggregate the assets of all of its series to calculate the amount of
coverage required by Rule 17g-1(d). Notwithstanding the foregoing, no Fund shall be required to increase the amount of its fidelity insurance unless and until the aggregate amount of fidelity insurance
maintained by the Funds exceeds the aggregate amount of fidelity insurance the Funds are required to maintain pursuant to the table contained in Rule 17g-1(d) by $2 million or less.
2. The allocation of the premium to each Fund shall be based on the
proportionate share of the sum of the premiums that would have been paid if fidelity insurance was purchased separately by the Funds, and will be based upon the relative Minimum Insurance percentages of the Funds as of the quarter ending prior to
the beginning of the first month in the period for which the coverage is obtained, subject to paragraph 4 below.
3. Each Fund is guaranteed a minimum coverage amount with access to the
remainder of the total coverage of the Fidelity Bond. In the event that any recovery is received under the Fidelity Bond as a result of the loss sustained by two or more Funds, each Fund shall receive an equitable and proportionate share of the
recovery, but in no event less than the amount it would have received had it maintained a single insured bond with minimum coverage.
4. Each Fund may, at any time, increase its allocation described in
paragraph 2 upon payment of the premium required for such additional insurance provided that the face amount of the Fidelity Bond can increase accordingly or be supplemented by a policy of excess insurance.
5. Any other registered investment
company or additional series of such an investment company for which the Advisers or their affiliates serves as investment adviser (“Additional Fund”) may become a party to this Agreement by executing a copy of this Agreement (a copy of
which will be furnished to each of the Funds) and by paying the premium for any required increase in the amount of the Fidelity Bond if the underwriter of the Fidelity Bond is willing to add such Additional Fund as an additional insured and increase
the amount of total coverage by the amount of the Minimum Insurance required for such Additional Fund by the provisions hereof.
6. The Agreement shall remain in effect for as long as two or more of the Funds
(including any Additional Fund) are insured under the terms of the Fidelity Bond. Any Fund shall, however, have the right to terminate, at any time, its participation in the Fidelity Bond and in this Agreement provided that losses incurred prior to
such termination shall be governed by the provision of this Agreement and the amount of any return premium to which such Fund shall be entitled will be limited to the amount actually obtained from the underwriter in respect of such termination.
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Signed: |
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/s/ John C. Ball |
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John C. Ball |
Treasurer, The Gabelli Asset Fund
Treasurer, Gabelli Capital Series Funds, Inc.
Treasurer, Comstock Funds, Inc.
Treasurer, The Gabelli Convertible and Income Securities Fund Inc.
Treasurer, The Gabelli Dividend Growth Fund
Treasurer, The Gabelli Dividend & Income Trust
Treasurer, Gabelli Equity Series Funds, Inc.
Treasurer, The Gabelli Equity Trust Inc.
Treasurer, The GDL Fund
Treasurer, GAMCO Global Gold, Natural Resources & Income Trust
Treasurer, The Gabelli Multimedia Trust Inc.
Treasurer, GAMCO Global Series Funds, Inc.
Treasurer, The Gabelli Global Utility & Income Trust
Treasurer, Gabelli Gold Fund, Inc.
Treasurer, The Gabelli Growth Fund
Treasurer, Gabelli International Growth Fund, Inc.
Treasurer, Gabelli Investor Funds, Inc.
Treasurer, The Gabelli Money Market Funds
Treasurer, GAMCO Natural Resources, Gold & Income Trust
Treasurer, Gabelli ESG Fund, Inc.
Treasurer, The Gabelli Utilities Fund
Treasurer, The Gabelli Utility Trust
Treasurer, The Gabelli Value 25 Fund Inc.
Treasurer, The TETON Westwood Funds
Treasurer, Gabelli 787 Fund, Inc.
Treasurer, the DIVIDEND Fund inc. by Gabelli
Treasurer, The Gabelli Global Small and Mid Cap Value Trust
Treasurer, The Gabelli Healthcare & Wellness(Rx) Trust
Treasurer, The Gabelli Go Anywhere Trust
Treasurer, Bancroft Fund Ltd.
Treasurer, Ellsworth Growth and Income Fund Ltd.
Treasurer, Gabelli Innovations Trust
Treasurer, Keeley Funds, Inc.
President, Gabelli ETFs Trust
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Signed: |
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/s/ John C. Ball |
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John C. Ball |
Schedule A
List of Registered Investment Companies
The Gabelli Asset Fund
The Gabelli Convertible and Income Securities Fund Inc.
The Gabelli Dividend Growth Fund
The Gabelli Dividend & Income Trust
The Gabelli Equity Trust Inc.
The GDL Fund
GAMCO Global Gold, Natural Resources & Income Trust
The Gabelli Multimedia Trust Inc.
The Gabelli Global Utility & Income Trust
Gabelli Gold Fund, Inc.
The Gabelli Growth Fund
The Gabelli Healthcare & Wellness(Rx) Trust
Gabelli International Growth Fund, Inc.
GAMCO Natural Resources, Gold & Income Trust
Gabelli ESG Fund, Inc.
The Gabelli Utilities Fund
The Gabelli Utility Trust
The Gabelli Value 25 Fund Inc.
the DIVIDEND Fund inc. by Gabelli
The Gabelli Global Small and Mid Cap Value Trust
The Gabelli Go Anywhere Trust
Bancroft Fund Ltd.
Ellsworth Growth and Income Fund Ltd
Gabelli Capital Series Funds, Inc.:
The Gabelli Capital Asset Fund
Comstock Funds, Inc.
Comstock Capital Value Fund
Gabelli Equity Series Funds, Inc.:
The Gabelli Equity Income Fund
The Gabelli Small Cap Growth Fund
The Gabelli Focused Growth and Income Fund
The Gabelli Global Financial Services Fund
GAMCO Global Series Funds, Inc.:
The Gabelli Global Content & Connectivity Fund
The Gabelli Global Growth Fund
The Gabelli Global Rising Income and Dividend Fund
The Gabelli International Small Cap Fund
Gabelli Global Mini Mites™ Fund
Gabelli Investor Funds, Inc.:
The Gabelli ABC Fund
The Gabelli Money Market Funds:
The Gabelli U.S. Treasury Money Market Fund
The TETON Westwood Funds:
TETON Westwood Equity Fund
TETON Westwood Balanced Fund
TETON Westwood SmallCap Equity Fund
TETON Convertible Securities Fund
TETON Westwood Mighty Mites Fund
Gabelli 787 Fund, Inc.
Gabelli Enterprise Mergers and Acquisitions Fund
Gabelli Innovations Trust
Gabelli Media Mogul Fund
Gabelli Pet
Parents’TM Fund
Keeley
Funds, Inc.
KEELEY Small Cap Dividend Value Fund
KEELEY Small-Mid Cap Value Fund
KEELEY Mid Cap Dividend Value Fund
Gabelli ETFs Trust
Gabelli Love Our Planet & People ETF
Gabelli Growth Innovators ETF
SECRETARY’S CERTIFICATE
The undersigned hereby certifies that the following resolutions have been adopted first by those Board Members who are not considered to be
“interested persons,” as defined in the Investment Company Act of 1940, as amended (the “1940 Act”) (“Independent Board Members”) voting separately, and then by the entire Board of each Fund, at the respective meetings
duly called and held on November 10 and 11, 2021:
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RESOLVED, |
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That the Board hereby approves the renewal of the Fidelity Bond coverage with
Travelers-St. Paul Fire and Marine Insurance Company and Great American Insurance Company, in the form submitted to the Board Members, effective December 7, 2021 for the ensuing year, which coverage is
maintained jointly on behalf of the Fund and other parties named as insureds therein and which will provide coverage in the aggregate amount of $30,550,000; and further |
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RESOLVED, |
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That the portion of the premium for the aforementioned joint fidelity bond to be paid by the Fund is hereby approved,
taking into consideration, among other things, the number of parties named as insureds; the nature of the business activities of such other parties; the amount of coverage under said fidelity bond; the amount of the premium for such bond; the
ratable allocation of the premium among all parties named as insureds; and the extent to which the share of the premium allocated to the Fund is less than the premium the Fund would have had to pay if it had provided and maintained a single insured
bond; and further |
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RESOLVED, |
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That the continuance of the Amended and Restated Joint Insured Agreement among Gabelli 787 Fund, Inc., The Gabelli Asset
Fund, Bancroft Fund Ltd., Gabelli Capital Series Funds, Inc., Comstock Funds, Inc., The Gabelli Convertible and Income Securities Fund Inc., the DIVIDEND FUND inc. by Gabelli, The Gabelli Dividend Growth Fund, The Gabelli Dividend & Income
Trust, Ellsworth Growth and Income Fund Ltd., Gabelli Equity Series Funds, Inc., The Gabelli Equity Trust Inc., The GDL Fund, The Gabelli Global Small and Mid Cap Value Trust, GAMCO Global Gold, Natural Resources & Income Trust, GAMCO
Global Series Funds, Inc., The Gabelli Global Utility & Income Trust, The Gabelli Go Anywhere Trust, The Gabelli Gold Fund, Inc., |
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The Gabelli Growth Fund, The Gabelli Healthcare & WellnessRx Trust, Gabelli Innovations Trust, Gabelli
International Growth Fund, Inc., Gabelli Investor Funds, Inc., The Gabelli Money Market Funds, The Gabelli Multimedia Trust Inc., GAMCO Natural Resources, Gold & Income Trust, Gabelli ESG Fund, Inc., The Gabelli Utilities Fund, The Gabelli
Utility Trust, The Gabelli Value 25 Fund Inc., The TETON Westwood Funds, the Gabelli ETFs Trust, and the Keeley Funds (“Amended and Restated Joint Insured Agreement”) as presented at this Meeting, is hereby approved; and further
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RESOLVED, |
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That the Assistant Secretary of the Fund is hereby authorized and directed to prepare, execute and file such Joint
Fidelity Bond and any supplements thereto, and to take such action as may be necessary or appropriate in order to conform the terms of the Joint Fidelity Bond coverage to the provisions of the 1940 Act, and the rules and regulations promulgated
thereunder. |
IN WITNESS WHEREOF, the undersigned has hereunto set his hand this 16th day of February, 2022.
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/s/ Peter Goldstein |
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Peter Goldstein |
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Secretary |
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Gabelli 787 Fund, Inc. |
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The Gabelli Convertible and Income Securities Fund Inc. |
The Gabelli Asset Fund |
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The Gabelli Dividend Growth Fund |
Gabelli Capital Series Funds, Inc. |
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The Gabelli Dividend & Income Trust |
Comstock Funds, Inc. |
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The Gabelli Equity Trust Inc. |
Gabelli Equity Series Funds, Inc. |
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The GDL Fund |
GAMCO Global Series Funds, Inc. |
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GAMCO Global Gold, Natural Resources & Income Trust |
Gabelli Gold Fund, Inc. |
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The Gabelli Multimedia Trust Inc. |
The Gabelli Growth Fund |
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Gabelli Investor Funds, Inc. |
The Gabelli Healthcare & WellnessRx Trust |
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The Gabelli Utilities Fund |
Gabelli International Growth Fund, Inc. |
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The Gabelli Utility Trust |
The Gabelli Global Utility & Income Trust |
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The TETON Westwood Funds |
The Gabelli Money Market Funds |
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GAMCO Natural Resources, Gold & Income Trust |
Gabelli ESG Fund, Inc. |
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The Gabelli Global Small and Mid Cap Value Trust |
The Gabelli Value 25 Fund Inc. |
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The Gabelli Go Anywhere Trust |
The DIVIDEND Fund inc. by Gabelli |
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Bancroft Fund Ltd. |
Gabelli Innovations Trust |
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Ellsworth Growth and Income Fund Ltd. |
Gabelli ETFs Trust |
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Keeley Funds, Inc. |
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